<<If you are not their specifically to piggy back Anthony's calls (and a few other primaries), then why pay 600 bucks a month. If you are a main contributor of investment ideas...maybe you should be getting a cut, right?>>
I've spent many a days sharpening my risk assessment skills at the Blackjack tables in Nevada. One day I stood behind a women at a roulet table and watched. I didn't know her and she didn't know me. I was looking at the ball and focusing on the specific numbers that the ball landed on. It all looked random to me, which is why I don't play roulet. The women turned to me and said that the ball was landing consistently in one of the three number groupings (1st 12, 2nd 12, 3rd 12) which pays 2 to 1. She betted according to her observations. She was winning and I decided to follow her bet with my own, expecting the trend to continue. It did, for several spins, and I won a few bucks. I followed her bet until the trend stopped. This experience and a few others at a craps table (over the years) lead me to realize that I don't have to be an expert at a particular game to win. Sometimes I can just follow someone who has a hot hand. Any one who has played a lot of craps will know that streaks do happened, and the thing to do is to bet along with the guys who is consistently winning.
At the A@P site, I follow certain calls that make sense to me. For example, one member I know (and have met) closely follows biotech stocks. One day he posted that he was selling short a biotech stock. The stock had spiked on bogus news, and he posted what he was doing. All he did was write "ss XYZ AA%". I had never heard of the stock XYZ. I did maybe 5 minutes of research and tossed in my comments into the chat, along with a slew of other participants. I liked what I saw, and agreed that the price spike was news driven, and that the stock price of XYZ will trade back down to where it started.
As for your comment about piggybacking, the appropriate term is shadowing. And yes, that is one of the reasons why I am subscribe to A@P. By shadowing and watching and asking questions and participating and contributing, I not only get to eat fish once in a while, but I also learn a few techniques and skills in fishing. There are members there that fish with large nets. I've heard stories of folks making millions. I am not one of those folks, yet. My portfolio is small, but you better believe I make money month over month, and far in excess of the fees, or I wouldn't be a subscriber. Investing is a job. It is not gambling. While I have a day job, I consider the management and growth of my portfolio my primary job.
BTW, shadowing much be effective, because it is illegal for brokers to shadow the accounts of successful traders. I have been told that firms like SCH use sophisticated software to screen against their own brokers shadowing customer accounts.
Chester |
